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    2835 Reynolda Rd Winston-Salem, NC 27106

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    2835 Reynolda Rd Winston-Salem, NC 27106

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    • Grocery and convenience stores
    • 53,313 SF
    • 8.34 lot acres
    For Lease
    $5,845,000
    View Listing →
    Retail Space Near Wake Forest For Lease
    $5,845,000

    Retail Space Near Wake Forest

    Retail space in Winston-Salem, near Wake Forest University.

    2835 Reynolda Rd, Winston-salem, NC 27106
    View Listing
    Property ID
    US53-0846944
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • ecoatm / Electronics Vending Machine
    • KrogerHarrisTeeter0346 / Electronics Vending Machine
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Harris Teeter / Grocery & Convenience Store / Food Market

    Property Details for 2835 Reynolda Rd

    Year built
    2015
    Construction
    CONCRETE
    Lot size
    8.34 lot acres
    Property size
    53,313 SF
    Zone code
    HB
    Property type
    Grocery and convenience stores
    APN
    6817-64-3450.00
    APU
    681764345000

    Description

    Pine Ridge Plaza, a premier 83,778 square foot retail center in Winston-Salem, North Carolina, presents an exceptional opportunity for businesses seeking high-visibility locations. Situated at 2835 Reynolda Road, zip code 27106, this Forsyth County property boasts a prime location near Wake Forest University and prominent medical facilities, ensuring high foot traffic and strong consumer demographics. The center features two suites, with a minimum divisible space of 1,300 square feet and a maximum contiguous space of 7,150 square feet. Currently, 8,450 square feet of retail space is available. Anchored by a Harris Teeter grocery store (opened Spring 2015), Pine Ridge Plaza benefits from a strong tenant mix and a thriving neighborhood atmosphere. The property offers excellent visibility from Reynolda Road and convenient access via a signalized intersection. This makes it an ideal location for a variety of retail businesses seeking to establish a presence in a vibrant and growing community. The property's strategic location and established tenant base provide a compelling investment opportunity for businesses seeking to capitalize on a high-traffic, well-established retail environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,322,000
      Market price range: $1.98M - $5.00M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,020,000
      Current use
      MEDICAL BUILDING
      $8,850,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,895,000
      Change: -2% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2994
    Latitude
    36.1455
    CBSA code
    49180
    CBSA name
    WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $96,734
    $1,850,900
    $5,847,600
    $7,698,500
    -
    $1,850,900
    $5,847,600
    $7,698,500

    Comparable in this City

    • Value Estimation
      $4,395,000
      36,136 SF

      2445 Fairlawn Ct

      GROCERY, SUPERMARKET • 36,136 SF
      2445 Fairlawn Ct, Winston Salem, NC 27106-3884
      View Details
    • Value Estimation
      $905,000
      4,960 SF

      3619 Reynolda Rd

      CONVENIENCE STORE • 4,960 SF
      3619 Reynolda Rd, Winston Salem, NC 27106-2254
      View Details
    • Value Estimation by Request
      252 SF

      1931 Peace Hvn Rd

      CONVENIENCE STORE • 252 SF
      1931 Peace Hvn Rd, Winston Salem, NC 27106-4850
      View Details
    • Value Estimation
      $510,000
      1,845 SF

      3396 Robinhood Rd

      CONVENIENCE STORE • 1,845 SF
      3396 Robinhood Rd, Winston Salem, NC 27106-5404
      View Details
    • Value Estimation by Request
      2,232 SF

      4920 Reynolda Rd

      CONVENIENCE STORE • 2,232 SF
      4920 Reynolda Rd, Winston Salem, NC 27106-9643
      View Details
    • Value Estimation
      $645,000
      2,505 SF

      4019 Reynolda Rd

      CONVENIENCE STORE • 2,505 SF
      4019 Reynolda Rd, Winston Salem, NC 27106-1744
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space and Outparcels Available

      Retail spaces and outparcels in the heart of Winston Salem.
      2440 Fairlawn Dr, Winston-Salem, NC 27106
      View Details
    • Contact for pricing
      15,247 SF

      Historic Bethania Mill Mixed-Use Property

      Historic mixed-use property with office and event space near Winston-Salem.
      5455 Bethania Rd, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Commercial Property on Robinhood Road

      Commercial property with high traffic, dual access, and ample parking.
      3449 Robinhood Rd, Winston Salem, NC 27106
      View Details
    • Contact for pricing

      Robinhood Road Commercial Property Available

      Commercial property with high traffic, ample parking, and dual access.
      3449 Robinhood Rd, Winston-Salem, NC 27106
      View Details
    • $785,000
      6,412 SF

      Retail Property in Winston-Salem

      Well-maintained retail property with high visibility and strong traffic.
      2910 Reynolda Road Prk, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Land Parcel Near Mixed-Use Project

      Land parcel for sale near a mixed-use development.
      2120 Olivet Church Rd, Winston-Salem, NC 27106
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      University Plaza Retail Opportunity

      Retail space available in high-traffic Winston-Salem shopping center.
      7760 North Point Blvd, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Retail Space Near Wake Forest

      Retail space in Winston-Salem, near Wake Forest University.
      2835 Reynolda Rd, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Retail Space on Reynolda Road

      Retail space available for lease in Winston-Salem, North Carolina.
      4908 Reynolda Rd, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      High-Traffic Retail/Office Space Available

      Retail and office spaces for rent in high-traffic location.
      710-720 Coliseum Dr NW, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Mixed-Use Development Retail Space

      Retail spaces available within a mixed-use development.
      2004 Robinhood Village Dr, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Office Unit with Multiple Amenities

      Office unit featuring multiple rooms, elevator, and conference room.
      635 Coliseum Dr NW, Winston-Salem, NC 27106
      View Details
    View Listing
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    Winston-Salem, NC 27106
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2835 Reynolda Rd, Winston-Salem, NC, 27106

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